Goldman Sachs to buy LCN Capital Partners in up to US$410 million deal
The deal marks the bank’s second acquisition in less than 10 days
Goldman Sachs announced on Tuesday that it is acquiring commercial real estate investor LCN Capital Partners for up to US$410 million, with an upfront payment of around US$260 million. The remaining potential payout of up to US$150 million is contingent upon future performance targets and service commitments. The majority of the consideration will be paid in stock.
LCN Capital Partners, founded in 2011 by Edward V LaPuma and Bryan York Colwell, specializes in sale-leaseback and triple-net lease investments. The deal complements Goldman's private real estate team's extensive 30-year track record and will enhance the bank's ability to serve its insurance, institutional, and wealth client segments.
Goldman Sachs CEO David M Solomon emphasized the strategic fit of the acquisition. This marks the bank's second acquisition in less than 10 days, following its recent purchase of ETF provider Neos Investments for up to US$2.25 billion. The acquisitions are part of Goldman's strategy to accelerate the expansion of its asset and wealth management business.
LCN Capital Partners will be integrated into Goldman Sachs Asset Management's real estate platform following the acquisition, expected to close by the end of 2026.
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